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Property profile & analytics
OFF-MARKET
Estimated value
$1,050,000
Office buildings
1535 Racine Ave Waukesha, WI 53186-6826
Entity Owned
13-yr Hold
Free & Clear
Property ID
US92-1291863
Property profile
Verified
Property type
Office buildings
Use group
OFFICE BUILDING
Year built
1961
Total area
6,192 SF
Lot
0.87 ac (37,897 SF)
Zoning code
B-1
APN
WAKC1342974
UPID
US92-1291863
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Mishlove & Stuckert, LLC Attorneys at Law Law Firm
-
Kuchler & Cotton, S.C. Law Firm
-
Pionek Valle Law Group, LLC Law Firm
-
Bloch Brad J Law Firm
-
Bankruptcy Law Office of Richard A. Check S. C. Law Firm Financial Advisor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$1.41M
Comparable Approach
Comparable
$674k
Blend (final)
Blend
$1.05M
Owner & transaction history
1535 E Racine Ave LLC · 13 yrs held
1535 E Racine Ave LLC
since 2013
7 recorded transactions
Zoning & alternative use
B-1 · Waukesha, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description
To provide for individual or small groups of retail and customer service establishments serving primarily the convenience of a local neighborhood, and the character, appearance, and operation of which are compatible with the character of the surrounding area, No such district established after the effective date of this Ordinance shall be less than three acr…
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
20.99 ac
Source
Realmo
Top alternative use upside
Restaurant
$1.7M
+14.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Waukesha submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Waukesha submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$1,530,000
6.5%
$1,410,000
7%
$1,310,000
Alternative Use
Use
Estimation
OFFICE BUILDING
$1,480,000
Current use
RESTAURANT
$1,690,000
Change: +14% · Conversion: Moderate
Blend value · Realmo final
$1.05M
Range $945k – $1.16M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$170 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,867
Tax year 2023
Assessed value
$584,200
Assessed 2023
Previous assessed
$482,800
+21.0% YoY
Effective rate
1.52%
On assessed value
Assessed land
$331,600
Assessed improvement
$252,600
Total market value
$604,825
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office buildings
Use group
OFFICE BUILDING
Status
Off-Market
Year built
1961
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
6,192 SF
Lot
0.87 ac (37,897 SF)
Zoning code
B-1
APN
WAKC1342974
UPID
US92-1291863
Jurisdiction
WAUKESHA
Zoning & alternative use
B-1 · Waukesha, WIZoning B-1 · permitted uses
B-1 · Waukesha, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Zoning description
To provide for individual or small groups of retail and customer service establishments serving primarily the convenience of a local neighborhood, and the character, appearance, and operation of which are compatible with the character of the surrounding area, No such district established after the effective date of this Ordinance shall be less than three acres in area
Zone name
Neighborhood Business
General category
COMMERCIAL
Zone area
20.99 ac
Source
Realmo
Alternative use value scenarios
Repositioning upside vs current use
OFFICE BUILDING Current
Est. value
$1.5M
RESTAURANT
Est. value
$1.7M
OFFICE BUILDING Current
RESTAURANT
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1961
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
0.87 ac
Current owner
From public records · entity-resolved
1535 E Racine Ave LLC
Entity
Free & Clear · 13 yrs held
Mailing address
PO BOX 527, WAUKESHA, WI 53187-0527
Ownership since
2013
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 13, 2024
—
1535 E Racine Ave LLC
—
Deed
related
$350,000 · Waukesha State Bank
Jun 4, 2020
—
1535 E Racine Ave LLC
—
Deed
related
$290,000 · Waukesha State Bank
Jun 26, 2013
—
1535 E Racine Ave LLC
Kuchler,donna J
Quit Claim Deed
related
—
Jun 14, 2013
—
Donna Kuchler
Kuchler,gerard F
Quit Claim Deed
related
—
—
—
Gerard F Kuchler
—
Deed Of Trust
related
$60,000 · Waukesha State Bank
—
—
Gerard F Kuchler
—
Deed Of Trust
related
$60,000 · Waukesha State Bank
—
—
Gerard F Kuchler
—
Deed Of Trust
related
$65,000 · Waukesha State Bank
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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